Cutting adspend in a recession delays recovery
We are heading for a recession - at least that is what we are told - and several indicators suggest the UK is at least in an economic slowdown. House prices are falling, consumer spending is slowing, many companies are announcing reduced profits and surveys of consumer confidence have shown declines since November 2007.
In fact, the only thing rising is media mentions of the word “recession” as tracked by The Economist’s R-word Index. And beware - this index accurately predicted the last three downturns in 1981, 1990 and 2001!